This paper reexamines the role of the state in financial markets. It identifies seven major market failures that provide a potential rationale for government intervention. The past decade has been marked by important financial innovations.
This paper reexamines the role of the state in financial markets. It identifies seven major market failures that provide a potential rationale for government intervention. The past decade has been marked by important financial innovations.
This paper reexamines the role of the state in financial markets. It identifies seven major market failures that provide a potential rationale for government intervention. The past decade has been marked by important financial innovations.